Sui’s price hovered around $0.68 on July 29 as sellers nudged the token back to a key support level just before its August token unlock event.
The actual supply boost looks smaller than some had feared. Official data shows circulating tokens will rise by roughly 22.2 million SUI in August, equivalent to about $15.1 million at current prices, not a daily $15 million addition.
According to Sui’s tokenomics, the circulating supply should grow from around 4.052 billion SUI in July to 4.075 billion by the end of August. This 0.55% increase includes a 13.72 million SUI cliff unlocking on August 1, which is part of the broader monthly release, not an extra amount.
This clarification matters because some market voices exaggerated August’s supply surge. While new tokens can add selling pressure, this moderate increase suggests that overall market mood and investor interest will likely shape SUI’s near-term price moves more than supply shocks.
Technically, sellers keep the upper hand. SUI slipped to about $0.6793 on the 12-hour chart after dropping from roughly $0.77. The token remains below key moving averages the 50-period EMA at $0.7289 and the 100-period EMA at $0.7569 signaling weakness.
Trading volume during the sell-off outpaced recovery rallies, indicating buyers haven’t regained confidence yet. The Relative Strength Index fell to 33.49, flirting with oversold conditions, but that alone doesn’t confirm a price floor.
Immediate support sits near $0.676, a key line for the coming days. Holding this level could open the door for a bounce toward $0.70 and $0.71. A more solid turnaround would require pushing back above the 50-period EMA close to $0.729.
Breaking decisively below $0.676 would put $0.66 and then $0.64 in focus as further support levels. The August token unlock may increase selling pressure, but SUI’s decline started well before this event.
This content is for informational purposes only and does not constitute financial advice.
